TBC Capital published a new report on Tbilisi Residential Market. According to the report, in H1 2021, a total of 16,000 residential properties were sold in Tbilisi, which was 86.5% more compared to the previous year.
Residential apartment sales in Tbilisi are down by 8% compared to the pre-pandemic levels.
According to the document, as of Q2 2021, 64% of the sold residential areas accounts for the new apartments.
The report reads, that the average price of 1 Sqm area of the residential apartments sold in Tbilisi was $ 709 in April and May, including cost of 1 Sqm area in new apartments stood at $ 745 and in old apartments - $ 645.
Demand on residential apartments by size is distributed as follows:
• Up to 50 square meters - 32% of sales;
• 50-70 square meters - 38% of sales;
• 70-100 square meters - 20% of sales;
• 100 and larger area - 10% of sales.
Consequently, the highest demand is still maintained for medium-sized apartments. As for their distribution by districts, up to 3,000 apartments were sold in Q1 2021 in Saburtalo. However, this figure is 23% lower compared to the same period in 2019.
About 2,700 apartments were sold in Didi Digomi this year, which ranked on the second place after Saburtalo. About 2,100 apartments were sold in Gldani and the same number in Samgori. Sales in Isani exceeded 1,900 apartments, while in Nadzaladevi and Didube more than 1,200 residential apartments were sold. About 1000 apartments were sold in Vake this year, and less than 500 apartments in Krtsanisi, Chugureti and Mtatsminda.
As for the price per square meter, it is still the highest on Mtatsminda, where the price of one square meter in a newly built building is up to 1,200 USD. Price of per square m totals to 1,150 in Vake and 950 USD in Saburtalo.
Residential apartments are most affordable in Samgori and Didi Digomi, where the price of one square meter in newly built buildings is about $ 600.
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